#TRUMP : "... THE PRESS ALWAYS HYPERBOLE EVERYTHING ".😃

President Donald Trump declared on Tuesday that he has "no intention" of firing Federal Reserve Chairman Jerome Powell before his term at the U.S. central bank ends next year.

"Absolutely not," Trump said in the Oval Office when asked if he was looking to remove Powell. "Never."

This statement marks a significant change for Trump, who has recently been continuously attacking Powell and did not rule out the possibility of taking the unprecedented step of firing him.

Immediately following Trump's latest statement, U.S. stock futures surged on major indexes.

Trump, who had previously pressured the Fed to cut interest rates to boost economic growth, said about Powell last week: "If I wanted him out of there, he would be gone very quickly."

White House economic advisor Kevin Hassett also confirmed on Friday that Trump and his aides were actively considering the possibility of firing Powell.

Powell, who was appointed by Trump during his first term, currently serves as Fed Chairman until May 2026. Powell has previously stated clearly that by law, the President cannot fire him.

On Monday, Trump delivered his harshest criticism to date of Powell, calling him a “total disaster” and urging him to cut interest rates immediately.

However, when asked on Tuesday afternoon about the possibility of firing Powell, Trump simply replied: “The press always hyperbole everything.”